[ET Net News Agency, 8 July 2020] BofA Global Research initiate coverage of Haidilao
International Holding (06862), China's largest hot pot chain, at "neutral" with a target
price of HK$38.
The research house said near-term recovery could be bumpy with limited visibility, given
concerns about COVID-19 and consumer behavior change, and BofA forecast moderating revenue
growth and declining NPAT in 2020.
Meanwhile, BofA expects growth to resume in 2021 and forecast 31% EPS CAGR over 2019-22,
as Haidilao's competitive edges could sustain long-term growth with share gain
opportunities.
BofA added that the stock has outperformed HSCEI by 24% year-to-date, which has
reflected its long-term outlook, and its current valuation (44x 2021 P/E) looks fair. (KL)
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06862 HAIDILAO
Nominal 
17.480 +0.600 (+3.555%) Research Report
08/07/2020 17:53
{I-bank focus}BofA starts Haidilao (06862) at HK$38
| Remark: | Real time quote last updated: 26/04/2024 10:44 |
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